Tupelo Furniture Market credo: Let's make a deal

TUPELO, Miss. — "Let's make a deal!" will be the credo at this week's Tupelo Furniture Market as retailers hunt for fresh promotional merchandise to spark business in the year's closing months.

The market runs this Friday through Sunday, Aug. 14-16.

"People who promote are going to be here because they're looking for deals, promotions and new ways to get customers into their stores," said David Looney, CEO of Meridian Furniture Mfg., an Iuka, Miss.-based upholstery producer showing for the first time here.

"Obviously, we have Las Vegas in September and High Point in October but Tupelo is the first good opportunity (for retailers) to go to one place and see a lot of different ways they might build their business," said Looney.

Meridian will be broadening its starting price points this market with two to three new groups priced at $399 retail for a sofa.
Business varies from retailer to retailer and region to region, according to Looney.

"Some are doing OK," he said. "That's about the best I hear. In other areas, they're saying June and July were a disaster.
"But this is the Furniture business. Everyone remains optimistic, but we know we've still got the long hot summer ahead of us."
The Lane Co. is expected to draw attention as it moves from its off-site, stand-alone showroom to a new space in Tupelo Building 6, but the company will be light on introductions.

"We don't introduce a ton of new product," said Morgan Files, vice president of advertising. "Were mostly showing styles from the previous April (High Point) market but we'll have some product specials, discounts and promotions that we'll push. We'll also talk about our fourth-quarter promotion plan. That's typically what we would do at a Tupelo market."

Files said that the company expects to see more dealers in the Lane space due to its new location in the Tupelo Building.
"We're excited about that," she said, adding, "I think we'll see an increase in traffic just because there are those dealers looking for promotions and deals. We have high expectations."

At leather specialist Soflex, introductions include a bonded microfiber chaise with storage or a slide-out bed unit at "an attractive price," said Tom Schmidt, president and CEO.

The Dallas-based company also will be offering "plenty of closeouts and opportunities for deals," said Schmidt, noting that new efficiencies in manufacturing and lower freight rates from China have allowed Soflex to reduce prices by an average of $50 per sofa.

In addition, Soflex will offer your-choice pricing on a sofa or a chair/ottoman combo, the latter priced at a higher mark to combat lower margins taken in the sofa, said Schmidt.

Other programs that Soflex will focus on at market include the rollout of a freight program with Federal Express that provides two-day delivery to 80% of the country from the company's 81,000-square-foot warehouse in Dallas.

The quick-ship program goes hand-in-hand with Soflex's ability to fulfill small orders from retailers without the requirement of a half-truck or full-truck order.

Schmidt said that he knows dealers are sitting on inventory, and that they are hesitant to order. Despite that, he said, "I'm optimistic. I think there is some pent-up demand out there. I'm hoping more retailers will listen to our message."

Erick McDowell, sales manager for M&W Sales, said the company has been working the phones in preparation for market and expects attendance to be good.

"We made 300 calls in the last two weeks," he said. "And about 80% said they are coming."

The company will have two showrooms in Building 3 - one for M&W and one for sister company Jamco - with a large number of promotions and specials.

"We feel like that is what people really need," McDowell said. "The Furniture business has really changed. People are looking more for the promotional items to keep going because they have to pay their bills - no matter what."

Bob Lephart, vice president of sales and marketing for case goods importer Sunrise Home Furnishings, said he is expecting attendance at the market to be in line with the January event.

But Sunrise will offer more specials than it did in January and it also will open one day early on Thursday.

Sunrise is featuring items that were well-received in High Point this spring, including three new home offices and one new home entertainment group.

A down economy is still likely to affect traffic and expectations of how good the market will be.

"We'll be happy with what we get," Lephart said.

Bill Caples, vice president of sales for Twin-Star International, said the company is expecting less attendance here - just as at other recent shows.

Caples said anyone shopping the market will be looking for hot buys.

He said the company's ClassicFlame fireplace line continues to retail well and its Tresanti wine coolers, a new category, will be shown for the first time in Tupelo.

Twin-Star is expecting to see big multi-store chains as well as independents here.

Ray Steele, vice president of sales for Furniture source Ultimate Accents, said the company will show 260 items, including spring introductions from the High Point Market as well as closeouts. Steele said the company always does a lot of business in Tupelo and that the market's relatively low exhibition costs still makes it a great value.

"The Tupelo Market is always enjoyable. I'm always anxious to go there," Steele said.

Once again, the market will be conducting its Tupelo-Only Special program, where participating exhibitors agree to offer special pricing during the show. Among the participants are Classic Flame/Tresanti, Furniture Traditions, Donco Trading, Affordable, American Bedding, B.S. Trading, Baroque Masters, Bean Bag Boys, Brooks, Comfort Solutions by King Koil, Country Road, Hinkle Chair, International Caravan, Prime Designs, Standard and Ultimate Accents.